Adding on to your house can be an exciting concept for homeowners because there are so many options. For those who plan to stay in their current home for a long period, an addition will improve the quality of their lives and increase the value of their property. Many homebuyers wonder how much value their new additions will bring to their property when they eventually decide to put their house on the market. No doubt you’ll be interested in finding out how much money you’ll be able to recuperate from that investment when you put your house up for sale. Keep reading to learn more about some of Raymore’s most popular home improvement projects.
Kitchen Expansion
For potential buyers, the kitchen is the most significant room in a house because it serves as the hearth. Adding a new kitchen is one of the most popular home improvement projects for homeowners in Raymore and across the country. However, just how much is one’s contribution worth?
This is what professionals in the field have to say about it. “Kitchen remodels have some of the highest returns on investment, which is no surprise. Just painting the cupboards or replacing the old appliances won’t be enough to transform your tight kitchen. If your kitchen is too small, you may want to consider expanding it to raise the value of your property.”
Many factors influence the final cost of a kitchen renovation, including “the size of the expansion and the current state of your kitchen.” However, a typical 200-square-foot kitchen remodels/expansion might cost anywhere from $48,000 to $95,000.
The extra value may be less than projected, despite the project’s appeal to both owners and buyers. At the point of sale, you should be able to recoup 60% to 80% of your initial investment. So, before you spend a significant amount of money on a major kitchen renovation, speak with a Raymore realtor at (816) 695-7352 to find out if this is a home improvement that will provide you with a sufficient return on your investment in your market.
Adding a Full or Partial Bath
One of the most popular house upgrades is a new bathroom, which is generally prioritised over a new kitchen by homeowners and potential purchasers. If you don’t have enough bathrooms on your property, you’ll scare away potential buyers. Adding a full or even a half-bath to your property will help you sell it faster if you have the money to do so.”
A bathroom extension typically yields a 53% return on investment. Additionally, upgrading or updating a current bathroom may give a larger return on investment. The good idea is to consult your Raymore real estate agent for advice on the best course of action. To learn more about this, call (816) 695-7352.
Adding a Second Level
Additions like adding a second storey are becoming increasingly popular because extra living space is always desirable. If you’re attempting to sell your house, adding a second floor can make it more marketable to prospective buyers.
To begin with, the price tag for such an upgrade can run up to $65,000 or more. When you sell, the return on your investment will be only about 65 percent.
Incorporating an Outdoor Living Space
Since we’re all spending more time at home these days, having a good outdoor living space is more crucial. Adding a deck to your Raymore, Missouri, home may be the most cost-effective way to increase the value of your property. Adding a deck will pay out handsomely in the long run.
Building a deck might run anything from $7,000 to $10,000. (though using high-grade materials to increase the deck’s life can significantly increase the cost). When it comes time to sell it, “you’ll likely get back 80 per cent of what you paid for it.”
A Master Suite Adddition
Adding a master suite to your house is another popular home improvement project on the minds of many homeowners. $21,500 to $63,100 might be expected to pay for a home addition of this type. However, you may expect a 63% return on your investment on average.
Consult Your Raymore Agent Before You Begin
The results might be quite different when it comes to the value these house additions bring to Raymore residents. Some are worth the money, while others aren’t. Considering the return on investment and whether or not to build an extension necessitates consideration of various aspects, not the least of which is the local market. As a result, consulting with a knowledgeable local agent is critical. Please call us at (816) 695-7352 if you consider any of these common home improvements but are unsure of their true value.